Sandbox Financial Partners LLC Buys 42 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sandbox Financial Partners LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.0% in the fourth quarter, HoldingsChannel reports. The firm owned 882 shares of the semiconductor manufacturer’s stock after buying an additional 42 shares during the period. Sandbox Financial Partners LLC’s holdings in Broadcom were worth $985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares in the last quarter. Fairfield Bush & CO. grew its position in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after purchasing an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Broadcom by 20.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after purchasing an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after buying an additional 420 shares during the last quarter. Finally, Ergoteles LLC bought a new position in shares of Broadcom in the first quarter valued at $1,095,000. 76.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,810 shares of company stock worth $26,107,692. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVGO. Barclays initiated coverage on shares of Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 target price for the company. Truist Financial raised their target price on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a report on Friday, December 8th. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald raised their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Susquehanna upped their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,230.18.

Broadcom Stock Up 0.5 %

AVGO stock opened at $1,325.41 on Friday. The stock has a fifty day moving average of $1,271.85 and a 200-day moving average of $1,063.26. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a market capitalization of $614.22 billion, a price-to-earnings ratio of 49.13, a PEG ratio of 2.78 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the business earned $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be given a dividend of $5.25 per share. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s dividend payout ratio is currently 77.84%.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.